‘Unfortunately, our politicians are predominantly businesses...

‘Unfortunately, our politicians are predominantly businesses oriented people who have supported the advancement of there own kind, to exploit the ignorance off common people and utilise them simply for funding reasons”

I accidentally came across this article searching for dodgy behaviour by BOD who preformed buybacks followed by capital raising.

MCB will love this freedom bestowed on him or his puppet by the Govt….this is further evidence that retail investors need to get rid of poll voting and place a choker chain on BOD behaviour when it to Public listed companies

The corporate regulator ASIC, the monopoly markets provider ASX – and a small group of top end of town corporate lawyers associated with investment banks and Australia’s inbred director’s club – conspired with Josh Frydenberg to rush through a series of changes last Tuesday. There was no consultation with anybody representing millions of Australia’s small shareholders.

The worst of these changes is lifting the annual limit on shares which can be placed with non-shareholders without shareholder approval in any 12 month period from 15% to 25%. As Terry McCrann explained in an excoriating column in The Weekend Australian, the change is actually much worse than this because the old requirement that you can’t do a pro-rata share issue greater than a 1-for-1 without shareholder approval has now been changed to a 2-for-1.